What is artificial intelligence (AI)?
Artificial intelligence (AI) refers to a machine’s ability to execute cognitive processes similar to those performed by humans, such as perceiving, learning, thinking, and solving problems. The human level in teams of logic, speaking, and vision is the standard for AI.
Introduction to AI Levels
Narrow AI: When a machine can execute a certain task better than a human, it is considered to have narrow artificial intelligence. AI research is currently underway.
General AI: An artificial intelligence reaches the general state when it can perform any intellectual task with the same accuracy level as a human would
Strong AI: An AI is strong when it can beat humans in many tasks
AI is being employed in practically every industry, giving organizations that integrate AI at scale a technological advantage. AI, according to McKinsey, has the potential to generate 600 billion dollars in retail value and 50 percent more incremental value in banking than traditional analytical techniques. The potential income increase in transportation and logistics is 89 percent higher.
For example, if a company employs artificial intelligence (AI) in its marketing department, it may automate dull and repetitive operations, leaving sales representatives to focus on responsibilities such as relationship building and lead nurturing. Gong is a startup that delivers conversation intelligence. The gadget records, transcribes and analyzes every phone call made by a Sales Representative. The VP can design a successful plan using AI insights and recommendations.
In a word, AI is a cutting-edge technology that allows computers to deal with complex data that is impossible for humans to handle. AI automates repetitive operations, freeing up a worker’s time to focus on higher-level, value-added tasks. When AI is used at a large scale, it reduces costs and increases revenue.
Where does AI come into play? Examples
Now, in this AI for beginners tutorial, we’ll look at a variety of AI applications:
AI offers a wide range of applications-
- The repetitious task is reduced or avoided using artificial intelligence. For example, AI can perform a task indefinitely without becoming tired. In truth, AI never sleeps, and it is unconcerned about the task at hand.
- Artificial intelligence helps to improve a product that already exists. Hard-code rules were used to develop fundamental goods before the age of machine learning. Rather than designing new goods from the ground up, companies used artificial intelligence to improve the functionality of existing ones. Consider a Facebook profile picture. You had to manually tag your buddies a few years back. Facebook now provides you with a friend’s recommendation using AI.
AI is employed in every industry, from marketing to supply chain management, banking, and the food processing industry. Financial services and high-tech communication are leading AI industries, according to a McKinsey survey.